IAC Inc. (NASDAQ:IAC - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $40.91 and last traded at $41.00, with a volume of 55208 shares changing hands. The stock had previously closed at $41.69.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on IAC. Barclays decreased their target price on shares of IAC from $70.00 to $66.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. TD Cowen reduced their price target on IAC from $82.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Citigroup cut their target price on IAC from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Piper Sandler cut shares of IAC from an "overweight" rating to a "neutral" rating and cut their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Finally, Truist Financial cut their target price on shares of IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.50.
Read Our Latest Analysis on IAC
IAC Stock Performance
The stock's fifty day moving average is $46.20 and its two-hundred day moving average is $49.24. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -95.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.
IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm's revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. On average, analysts expect that IAC Inc. will post -3.97 earnings per share for the current fiscal year.
Institutional Investors Weigh In On IAC
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company's stock valued at $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp increased its position in shares of IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company's stock worth $127,027,000 after acquiring an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company's stock valued at $76,527,000 after acquiring an additional 79,951 shares during the period. Geode Capital Management LLC raised its holdings in shares of IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company's stock valued at $65,541,000 after acquiring an additional 25,909 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock valued at $51,027,000 after acquiring an additional 52,271 shares in the last quarter. Institutional investors own 88.90% of the company's stock.
About IAC
(
Get Free Report)
IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.
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